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Countrywide's Sambol
Scores Bonus to Stay

Bank of America
To Pay $28 Million
In Cash and Stock

By

James R. Hagerty and

Lavonne Kuykendall

Updated March 28, 2008 12:01 a.m. ET

Bank of America Corp. has agreed to pay $28 million in cash and stock to Countrywide Financial Corp. President David Sambol as an incentive for him to stay with Bank of America after its planned acquisition of the mortgage lender.

Mr. Sambol, who also serves as Countrywide's chief operating officer, has been named to head the combined company's consumer-mortgage business after the deal is completed. Bank of America agreed in January...